RE:RE:RE:RE:They quietly issued 20 million shares at a $1.33! That was the Auditor okay regarding the January raise - it's at $2.00 per share and a 1/2 warrant with a strike price of $2.35 - we if we get there anytime soon then great. Uninformed or a basher...
This short form prospectus (the “Prospectus”) is being filed by Maricann Group Inc. (the “Corporation”) to qualify the distribution of 21,131,250 units (the “Units”) of the Corporation, each Unit being comprised of one common share in the capital of the Corporation (a “Unit Share”) and one-half of one common share purchase warrant of the Corporation (each whole common share purchase warrant, a “Warrant”) upon the deemed exercise of 20,125,000 special warrants (the “Special Warrants”) of the Corporation. The Special Warrants were issued on January 9, 2018 (the “Closing Date”) to purchasers resident in British Columbia, Alberta, Saskatchewan, Ontario and New Brunswick (in addition to purchasers resident in jurisdictions outside of Canada) on a private placement basis at a price of $2.00 per Special Warrant (the “Offering Price”), for aggregate gross proceeds to the Corporation of $40,250,000, (the “Offering”). The Special Warrants were issued pursuant to the terms of a special warrant indenture dated January 9, 2018 (the “Special Warrant Indenture”) between the Corporation and TSX Trust Company, as special warrant agent thereunder (the “Special Warrant Agent”), and an agency agreement dated January 9, 2018 (the “Agency Agreement”) among the Corporation, Eight Capital, as sole bookrunner and co-lead agent, Canaccord Genuity Corp., as co-lead agent, and Industrial Alliance Securities Inc. (collectively, the “Agents”). The Offering Price and other terms of the Offering were determined by arm’s length negotiations between the Corporation and the Agents. See “Plan of Distribution”. The Warrants will be issued pursuant to the terms of a warrant indenture dated January 9, 2018 (the “Warrant Indenture”) between the Corporation and TSX Trust Company, as warrant agent thereunder (the “Warrant Agent”). Each Warrant entitles the holder thereof to purchase one common share in the capital of the Corporation (a “Warrant Share”) at a price of $2.35 per Warrant Share until 5:00 p.m. (Toronto time) on January 9, 2021, subject to adjustment in certain events. See “Description of Securities Being Distributed”